EFE Securities •

2 years ago •

Market Commentary

Market Comment - 06.05.2022

ZSE falters in Friday''s session... The market continued to falter in week ending session as heavy and mid-cap counters weighed on the bourse. The mainstream All Share eased 1.42% to 27196.87pts while, the Industrials slipped 1.43% to 89721.27pts. The ZSE Top Ten Index was 1.82% softer at 18044.54pts while, the Mid-cap Index let go 0.30% to close at 44544.97pts. The market registered a negative breadth of six as nineteen counters faltered against thirteen that gained. Leading the laggards’ pack was ART that dipped 13.19% to $25.0000, trailed by Mashonaland holdings that retreated 8.44% to end at $4.9328. General Beltings trimmed 4.80% to $2.1124 as telecoms giant Econet shed 4.59% to $275.9619 having traded a low of $260.0000. Banking group CBZ capped the top five shakers of the day on a 3.65% loss to $157.0500. Partially mitigating today’s losses were gains in Zimpapers that surged 14.04% to trade at $5.9500. NTS followed on a 7.96% jump to settle at $15.0000. Hotelier RTG grew 4.69% to $8.0000 as First Capital added 4.64% to $10.9934, post the release of its first quarter trading update in which the bank recorded a total income that went up 37% to $2.4bn while, its net interest income and non-funded income rose by 37% and 36% apiece. Turnall completed the top five gainers’ list on a 4.57% uplift to $7.3200. Activity aggregates enhanced in Friday’s session as reflected in volumes that shored up 101.80% to see 6.47m shares exchange hands while, value outturn went up 32.23% to $430.93m. Volume drivers of the day were FMP, OK and Ecocash that claimed 33.00%, 30.39% and 10.17% respectively. Econet, OKZIM and Ecocash anchored the value aggregate as the trio accounted for a combined 72.38% of the turnover. On the VFEX, Bindura put on 1.87% to end pegged at $0.0490. Datvest and Morgan ETFs came off 2.87% and 4.48% to $2.6267 and $22.5031 respectively while, the Old Mutual ETF rose 0.66% to $10.9202.